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On the technical charts, the RSI of the stock stood at 30.25.

Non-institutional investors (NIIs) led the demand, subscribing 8.5 times, followed by retail investors at 7.2 times. Qualified institutional buyers (QIBs) had bid for 21,293 shares out of the 5,790,147 shares reserved for them.

JM Financial has recommended buying Larsen & Toubro with a target price of Rs 3825 as the company reported significant growth with a total income of Rs 62655.85 crore and net profit of Rs 4112.81 crore in the latest quarter. L&T secured a major Rs 76 billion order from the Ministry of Defence for K9 Vajra-T artillery platforms.

Axis Securities recommends buying Kalpataru Projects International with a target price of Rs 1,590. The company operates in the power sector and has a market cap of Rs 22,281.55 crore. Kalpataru Projects reported a consolidated total income of Rs 4,946.98 crore for the quarter ended September 2024. Promoters hold a 35.24% stake in the company.

ITC Share Price: Following the record date for demerging ITC Hotels, ITC Ltd’s shares were adjusted by Rs 26 on NSE and Rs 27 on BSE, reflecting the separation. ITC will distribute 60% of ITC Hotels’ shares among existing ITC shareholders, retaining the remaining 40% in the company.

Angel One shares surged 4.5% after reporting an 11.3% YoY increase in Average Daily Turnover (ADTO) to Rs 40.05 lakh crore for Q3 FY25. The company saw a 51.7% YoY growth in its client base to 29.52 million. Despite a decline in quarterly ADTO, Angel One gained market share in cash turnover but lost in commodities.

Now, whether they can go back to a growth similar to the system growth given their size, like the system growth or credit growth right now is around 12% or they lag behind is something we need to see.

On January 6, five stocks—Dabur, Bank of Baroda, Marico, Adani Energy Solutions, and PNB—saw a short buildup, with rising open interest (OI) and falling stock prices, signaling bearish sentiment. Traders appear to be anticipating further price declines, establishing short positions in these stocks, with price changes ranging from -3.56% to -4.59%.

The Relative Strength Index of the stock stood at 60.23 on Monday.

A total of 1,549 shares changed hands on the counter till 10:55AM (IST).